22 nothing to fear, a lot to gain t - ceibs. · pdf fileand leverage the opportunities...

Nothing to Fear, A Lot to Gain

There is a certain level of fear when one company is

taken over by the other. If the company doing the

buying comes from an entirely different country,

one that’s far away and not infrequently regarded as a place

of many mysteries, the possibility for misunderstanding

skyrockets. In May, CEIBS hosted four events across

Europe with the goal of helping players from both sides

of the vibrant Sino-European relationship understand

each other, each other’s markets, and also to explore the

opportunities for win-win collaboration.

theLINK Volume 3, 2016

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22

“I predicted years ago that Chinese

companies are going to go global in

this decade. The time for China is

now,” said CEIBS European President

P r o f e s s o r Pe d r o Nu e n o . “A s a

business school that is at the service

of companies around the world, we

should address the issue, and it’s the

right moment to address it in a very

thorough way.”

The events in Munich, Zurich, London

& Paris brought together an impressive

list of influential participants who

discussed location-specific topics as

well as the wider issue of how both

sides (of a specific deal or in terms of

Sino-European collaboration) can win

by working together.

“As a school founded by the EU and

the Chinese government 22 years ago,

it’s our mission to make both sides

understand the opportunities and

the potential of economic exchanges

between the two continents,” said

CEIBS Dean Ding Yuan. “Our events

in Europe are about creating dialogue

be tween European and Chinese

companies.”

The events were packed with real

life examples of Chinese companies

that had successfully done overseas

acquisitions, European firms who were

doing business in China as well as

valuable insights from industry experts

and CEIBS faculty about how to spot

and leverage the opportunities available.

Read on for more in:

Munich

Tangible benefits to Sino-German

Ties

Industry 4.0 & the China Market

Zurich

Swiss Companies Doing Business in

China

Fix Your Balance Sheet, Says Xu

Xiaonian

London

Open for Business

~ People’s Bank of China Woos

London

Internationalisation of ICBC

Ch i n e s e B a n k s Re a dy for R M B

Internationalisation?

Paris

Win-w in for Chinese & French

Enterprises

The series of events, which ran from

May 18 to 25, would not have been

possible without the strong support

of a long list of partners who are

thanked on page 47).

Scan to watch event video or watch

on YouTube at https://youtu.be/

lxtkplAlnI4

These events, according to CEIBS

President Professor Li Mingjun, fit

in well with CEIBS’ overall strategic

goal of supporting alumni companies

going global, as well as the school’s

own internationalisation efforts. “In

today’s world one has to look at a

country’s economy within a global

context, so I believe our forums can

be helpful to our European friends

who wish to know China better,” he

said. “China and Europe share similar

economic challenges, but there are

opportunities for both, too. We are

hoping we can help business leaders

from both countries get to know

China better.”

The past year has been rocky for

the increasingly integrated world

economy. China’s growth slowed

b u t i t s c o m p a n i e s c o n t i n u e d

their breakneck speed of overseas

acquisitions such as Suning’s €270

million purchase of 70% of Italian

football club Inter Milan, Midea’s

€1.4 billion bid for 30% of German

robot maker Kuka, to name a few. As

China’s leading international business

school, CEIBS is uniquely positioned

to help both sides – the acquirer and

the company being acquired – pull off

deals like these. The school has already

racked up a wealth of experience

helping alumni companies go global

and also has a successful acquisition

under its belt with the October 2015

purchase of the Lorange Institute of

Business in Zurich.


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23

Munich

“Over 8,200 German companies have made inroads into the Chinese market”


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24

Tangible benefitsto Sino-German Ties

Chinese Ambassador to Germany Mr Shi Mingde

“In autumn, German Chancellor Angela

Merkel will visit China for the tenth time

to attend the G20 Summit. Maintaining

high-level exchanges, particularly the face-to-face

talks between Chinese and German leaders, will give

a significant push to China-Germany cooperation.

Practical, mutually beneficial economic and trade

cooperation will unleash the greatest potential

in boosting China-Germany relations. China

and Germany are the largest trading partners to

each other in their respective regions. Last year,

their bilateral trade amounted to US$160 billion,

accounting for nearly one-third of that between

China and the EU and equivalent to the total of

the China-UK, China-France and China-Italy

trade volume. Over 8,200 German companies

have made inroads into the Chinese market while

more than 2,000 Chinese counterparts have

gained a solid foothold in Germany, indicating the

transition from a one-way to a two-way bilateral

investment relationship between the two nations.

By the end of 2015, China’s cumulative non-

financial investments in Germany had hit US$6.6

billion. The two countries have also made great

strides in international financial cooperation.

On one hand, as a member state of the Asian

Infrastructure Investment Bank (AIIB) initiated

by China, Germany is now the largest contributor

to AIIB outside Asia; on the other hand, China

has joined the European Bank for Reconstruction

and Development. Moreover, the renminbi

clearing and settlement mechanism in Frankfurt

is running well, and Germany will also issue

renminbi-denominated bonds. Presently, China

and Germany are hammering out the China-EU

Investment Agreement, a top-level one that will

not only lay a solid foundation for expansion

of their bilateral investment, but also provide

Chinese and German companies with convenient

access to each other’s market.


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25

The cultural and people-to-people

exchange between China and Germany

has also made much headway. During

his state visit to China in March,

German President Joachim Gauck,

together with Chinese President

Xi Jinping, attended the opening

ceremony for the China-Germany

Year of Student and Youth Exchanges.

Germany will also serve as the Guest

of Honour Nation of the West China

International Fair 2016. Nowadays,

more than 32,000 Chinese students

and over 8,200 German counterparts

are studying in Germany and China

respectively. Every week, 99 flights

are launched between China and

Germany. There are 81 pairs of sister

provinces/states and over 500 pairs

of sister colleges between China and

Germany. Every year, around 1.10

million people travel back and forth

between China and Germany. To

celebrate the 45th anniversary of the

establishment of diplomatic relations

in 2017, China and Germany are

planning for a German contemporary

art exhibition in China and a series of

cultural events in Germany.

As the Chinese economy has moved

in to the new nor mal , making a

structural adjustment, cutting excess

capacity, and addressing weaknesses

will add a fresh impetus to the Chinese

economy. As a 10- t r i l l ion-RMB

economy, China will maintain an

annual growth rate of over 6.5% in the

next five years, during which China

will import commodities worth over

US$10 trillion, invest over US$600

billion abroad, and send about 500

million tourists overseas. In addition,

since China and Germany are located

at the opposite end of the Silk Road

Economic Belt, it is critical for the two

countries to join hands carrying out

the “One Belt, One Road” initiative,

which will open up broad vistas for

their cooperation and bring them

generous return and tangible benefits.”


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26

Industry 4.0 & the China MarketThis is an edited excerpt from a Keynote Speech prepared for the CEIBS

2nd Europe Forum 2016 Munich

B y B e r n d K o e r b e r , V i c e P r e s i d e n t o f B u s i n e s s Development, BMW China

“The term “Industry 4.0” is linked to the fourth industrial

revolution. The first industrial revolution was driven

by the steam engine and mechanisation, the second by

Henry Ford’s assembly line and the third in the 1970s, when computers

revolutionised the workplace. Now the three have coalesced, putting

manufacturing companies at the dawn of Industry 4.0, an age where

“smart devices” really are smart enough to assume major control over

their machines of manufacturing and distribution.

The Industry 4.0 Project is now part of the German government’s

official High-Tech Strategy, which it is actively pursuing in conjunction

with private sector partners. Its target is to: “Ensure the Future of

German Production”.

How important is Industry 4.0 to Germany?

Manufacturing is still a backbone of the German economy, accounting

for 22% of GDP in 2014. This is approximately 30% higher than the

European average and 100% more than in France. It also contributes

to 17% of total employment. Meanwhile, Germany is ranked third


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27

g l o b a l l y i n t e r m s o f e x p o r t i n g

goods and services, a status which

i s p r i m a r i l y s u p p o r t e d b y t h e

manufacturing industry. So there

is a necessity to keep/strengthen

the compet i t iveness o f Ger man

manufacturing in the increasingly

competitive global market.

In the last two decades, for example,

the lion’s share of manufacturing has

switched to emerging economies,

from 21% of the manufactur ing

value added in 1991 to 40% in 2011.

Nowadays, competition for Germany’s

manufacturing industry does not only

come from Asia (for example “Made

in China 2025”, the “Industrial Value

Chain Initiative” in Japan), but also the

US. Germany therefore needs to find

a solution to keep its manufacturing

industry’s international competence.

Based on a BCG study, in the next 10

years, Industry 4.0 will help Germany

gain 5-8% of productivity (considering

the cost of material), and roughly 1%

of GDP. Manufacturers need to invest

about 1 to 1.5 of their revenue to adapt

to Industry 4.0, which has energy

efficiency and sustainability among its

key characteristics. It is expected that

in 2035, 60% of electricity in Germany

will be generated from renewable

energies. Industry 4.0 could improve

the security of the energy supply

and solve the industry’s threat to the

environment.

In du s t r y 4 . 0 i s a l s o a s t r a te g i c

response to deal with the demographic

challenges faced. Low birth rates

and a declining population size is

the main demographic challenge in

Germany. The country’s population

will decline to 65-70 million by 2060,

which is approximately 16% less than

its population in 2014. Industry 4.0

could release workers from having to

perform routine tasks, enabling them

to focus on creative, value-added

activities. It will also allow older

workers to extend their working lives

and remain productive for longer.

In addition, Industry 4.0 caters to

the new generation of consumers’

demand for individualised products.

With highly flexible mass production,

manufacturers are able to meet this

demand w i thout compromis ing

quality.

H o w i m p o r t a n t i s G e r m a n y ’s

Industry 4.0 to China

From a quantitat ive perspective,

China is the No.1 manufacturing

country in terms of value added; its

manufacturing industry takes up 31%

of GDP, 9% higher than Germany.

From a qualitative perspective, China’s

goal is to transform from “Made in

China” to “Created in China” and

upgrade its manufacturing industry

structure. China is facing challenges

“Earlier industrial revolutions did not happen overnight, nor were they recognised as such at the time.”


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28

from both developing countr ies

and de ve loped countr ies in the

manufacturing industry. With its aging

society it is also facing demographic

change. The number of Chinese senior

citizens (over 60 years) was already

over 200 million in 2014. As they are

to Germany, resource efficiency and

energy supply security are equally

important to China. Meanwhile,

China needs to gain productivity to

maintain its competence and handle

the challenges it faces.

Made in China 2025 echoes the

idea of Industr y 4 .0 . S imi lar to

the German concept, China also

emphasises applying IT technologies

in Industrial Production. China’s

Premier Li Keqiang proposed the

strategy in last year's government

work report, meaning to upgrade the

industrial and technical standards in

China. The country will implement

this Made in China 2025 strategy

alongside an Internet Plus plan, based

on innovation, smart technology, the

mobile Internet, cloud computing,

big data and the Internet of Things

(IoT). Following this, informatisation

and industrialisation will be unified

and priority wil l be given to the

development of 10 particular fields,

including information technology, new

materials and agricultural machinery.

I m p l i c a t i o n s f o r S i n o - G e r m a n

cooperation

Industry 4.0 was conceptualised in

Germany to maintain competitiveness

of German manufacturing in the

increas ing ly compet i t ive g loba l

market and to address demographic

changes. China has the world’s No.1

manufacturing sector, however it is

in need of improvement with regard

to quality and competitiveness and

faces similar challenges to Germany –

such as a rapidly aging society. Made

in China 2025 resonates well with

international trends such as Industry

4.0. Advanced manufacturing is a

strategic area with great potential

for cooperation between China &

Germany. BMW is keen to exchange

our insights in Industr y 4.0 and

continue our efforts in China to fulfil

the Made in China 2025 vision in the

auto industry.

Are you ready for Industry 4.0?

Industry 4.0 is currently more of a

vision than a reality, but it is one with

potentially far-reaching consequences.

The concept continues to evolve as

people think of innovative ways to

implement it. Most of the techniques

and technologies needed to implement

Industry 4.0 exist today, such as

radios, sensors, and GPS modules that

could be used for asset tracking.

Sensors will be involved at every

stage of the manufacturing process,

providing the raw data as well as the

feedback that is required by control

systems. Industrial control systems

w i l l b e co m e f a r m o re co m p l e x

and widely distr ibuted, enabling

flexible, fine-grained process control.

Programmable logic wil l become

increas ing ly imp or tant s ince i t

w i l l be imposs ible to ant ic ipate

al l the environmental changes to

which control systems wil l need

to dynamica l ly respond. Smar t ,

connected embedded devices will

be everywhere, and designing and

programming them will become that

much more challenging – but also

rewarding.

Earlier industrial revolutions did

not happen overnight, nor were they

recognised as such at the time. For its

part, Industry 4.0 may or may not be

recognised as revolutionary – rather it

may be seen as evolutionary.

Whether revolution or evolution,

industrial production is about to

become a lot more efficient. It will

be important to stay tuned for more

innovat ive developments and of

course to get involved in making them

happen.


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29

Zurich


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30

UBS’ renowned conference centre located a stone’s throw away from the

legendary “Paradeplatz”, the heart of Switzerland’s financial centre, was the

venue for the second stop of the CEIBS 2nd Europe Forum. The first of the

day’s panels provided valuable information on how European companies – especially

Swiss ones – can and are embracing the Chinese market. Panellists represented global

healthcare giant Roche, wealth management experts UBS, and the Swiss-Chinese

Chamber of Commerce a networking and information platform for those serious about

doing business in both countries. Read on for excerpts:

Swiss Companies Doing Business in China


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31

Lots of Opportunities: Trust is Vital Frank Niedermann,

Managing Director, Head of Wealth Management APAC Switzerland UBS

In Europe, entrepreneurs fear the size

and aggressiveness of potential partners

from China. The big challenge for us is

to find out the investors’ true motivation.

This is where CEIBS can play a crucial

role: by acting as a facilitator between

cul tures ; in par t icular, between

Switzerland and China. Because it

is all about true understanding. If

we identify a sincere candidate in

China, particularly in the production

industry, and we have a candidate here

in Switzerland, the opportunities are

tremendous because this country has

many outstanding brands.

Whether it's a chocolate maker or a

fashion brand, the brands here are

high-end, wonderfully developed and

they generate great cash flow. But it’s

all about finding the right partner.

So, I encourage you to please help us

create understanding of each others’

motivations. In this way, we can create

long-lasting deals for all.”

“F i v e y e a r s a g o i n C h i n a , i f I

a s k e d a n e n t r e p r e n e u r i f h e

might be interested in acquiring

an international organisation or

expanding his business abroad, he’d

always ask, with a big smile, “Frank,

why should I go to Europe? We have

10% GDP growth and we have a

huge country. China is a big enough

market; there’s no need to go to

Europe.” Today, this way of thinking

has completely changed.

We heard this morning about the

huge capital flows. About one third

of these assets go into the US; one

third are distributed in Asia and one

third comes to Europe. So it goes,

primarily, first into real estate; because

entrepreneurs are very comfortable

with investing in real estate. But then

of course some goes into industrial

investments, hospitality industry,

hotels, medical technology, clinics,

beauty products, fashion, food, etc.

What I hope will be the key takeaway

today, is that we love to help Chinese

entrepreneurs find the right potential

target in Europe; the right partner

to co l l a b or a te w i t h . Cu r ren t ly,

m y t e a m a n d I h a v e a b o u t 3 0

substantial groups looking to expand

into Europe. At the same time, in

Switzerland, I have access to about

50 companies that I know would be

very interested in expanding in the

other direction. They’d love to have

an additional distribution channel

as well as a fresh injection of capital.

They want to keep the companies’

legacy intact for the next generation.

So they are looking for a buyer, not

because they have a mandate to do

so, but because it is something they

aspire to. I have about 40 companies

in Central Europe, Eastern Europe, in

the technology field – they’re looking

for partners. So investments are

welcome. But the biggest challenge

for us is trust.


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Importance of the China marketSusan Griffing, Vice President, Global Head Country Clinical Operations, Roche

Are you listening?

Felix Sutter, President of Swiss-Chinese Chamber of Commerce;

Partner at PriceWaterhouseCoopers, Risk Assurance Division

“We’ve been in China a long time: since

1926. Roche had an end-to-end value

chain group based in Shanghai for

many years. Not only that, we actually

export some of the products we make in

China to the EU and to the US. We’re

very committed to China – and already

[during today’s event] we’ve heard a

number of reasons why commitment

to this market is important. Roche is

dedicated to patients in China; to our

people in China and to expanding our

business in this country and in the

wider Asia-Pacific region.

We do drug discover y, research

d e v e l o p m e n t , m a n u f a c t u r i n g ,

marketing and sales in China. In

fact, Roche is amongst the leading

multinationals in the country, ranked

fourth in terms of revenue. We also

consider China to be a strategic site for

us, alongside San Francisco and Basel.

Shanghai, Beijing and Guangzhou (we

formerly had an office in the latter

city) are key strategic sites for us, which

goes to show just how important a link

China is along our integrated global

R&D chain. We have people in China

who work on both China programmes

and global programmes. We look to

develop and attract talent in China and

throughout the region.”

“Listen to the Chinese government,

it communicates with the business

community. Have you read the Five-

Year Plan? Do you understand what’s

in it? Do you know what the potential

implications of the hukou reform may

be on the real estate industry? Do you

understand what this reform means

for education? Do you understand

what new educational policy shifts

mean in terms of number of students

who will be admitted to schools in

Beijing and other top-tier cities?

What do they mean for students?

The anticipated impact of all these

changes has been communicated to

us by the government, and we need to

understand [these and similar issues

if we want to do business in and with

China].”


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Fix your ba lance sheet i f you

want to grow! That’s the advice

outspoken economist Professor

Xu Xiaonian offered China and Europe

during CEIBS Europe Forum series across

four major cities this May.

Xu, a Professor of Economics & Finance

a t C E I B S i s k n o w n f o r h i s f r a n k

comments that are often not perfectly

aligned with China’s economic policies.

Throughout the Europe events , he

chose his words carefully – not backing

down from expressing himself but also

presenting a fairly balanced picture.

While he stressed that he does not at all

understand the thought process behind

the economic policies both China and

Europe are now using, he is still bullish

Fix Your Balance Sheet, Says Xu Xiaonian

on at least one of the two countries. “I’m

not pessimistic at all about China, that’s

why I’m still [living there],” he told an

audience of about 250 diplomats and

business executives during CEIBS 2nd

Europe Forum 2016 event at the UBS

conference centre in Zurich on May 20.

“Please stay [in China] and work with us.

If you miss the opportunity to work with

China, you will regret it,” he added.

Xu is confident that there is no currency

crisis on the horizon for China, no serious

debt crisis “because the government has

trillions in assets”, and the country still has

a “huge potential” for growth. He expects

that once economic reforms are launched

in China, we will see “a new phase of

economic development.”


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34

His comments came on the heels of

a long-running debate on the status

of the Chinese economy. A large part

of the four series of events hosted

by CEIBS in May was to help the

European market better understand

the Chinese economy and f irms,

and vice versa, while providing the

knowledge base and platform needed

by its alumni who are eying the global

market.

During his keynote speech, Xu drew

parallels between the choices China

now faces and the inadequate steps

the EU took to deleverage its economy

after the 2008 crisis. He cited data

that showed that the US economy,

which took a haircut after the crisis,

recovered earlier than the EU, which

is still lagging behind. “My advice to

China and the EU is clean up your

balance sheet first, then we can talk

about economic recovery,” he said.

The concre te s teps the Chinese

government needs to take, Xu added,

include shrinking the balance sheet

and cleaning up excess. This would

mean selling state assets and using

the money to write off bad loans

and recapitalise the banks; resolving

over-capacity by closing loss-making

firms; and engaging in fiscal austerity

though it may deepen recession in

the short term. Xu also suggested the

deregulation and breaking up of state

monopolies, steps that he said would

create investment opportunities and

jobs as well as promote competition

and improve efficiency of resource

allocation. He also spoke of the need

to protect private property rights

in order to encourage long-term

investment in R&D, which would also

decrease capital outflows and therefore

prov ide suppor t to the Chinese

currency. These steps, he added, would

require judicial reform to separate law

enforcement from the administration.

For MNCs and others doing business

in China, he urged: “Stay [in China]

and go through the difficulty with us;

work with us. The well-being of the

people is still the number one priority

of the [Chinese] government.”


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35

London


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36

EY’s impressive Canary Wharf venue and excellent support staff helped make the

third event in the series a success on May 24. It also helped to have great content

provided by the 10 speakers and panellists who took the podium to discuss

Renminbi (RMB) Internationalisation and China’s Financial Innovation. Among them

was Jin Mei, Chief Representative, People’s Bank of China Representative Office for

Europe. She spoke about the latest policies related to RMB business and capital account

liberalisation, the outlook for RMB internationalisation, as well as London’s position

and role in the process. Here are excerpts:-

Open for BusinessPeople’s Bank of China Woos London


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37

“I hope that by the end of my speech

you will have more confidence in

investing in China and are more

interested in using the RMB.

The first point I want to emphasise

is that RMB internationalisation is

a long-term process and has been

moving forward step-by-step over

time. This is not only a trend but also

an established guideline, despite some

minor twists and turns. The general

trend will not change in terms of

policies.

The second point I want to highlight

is that we are pushing forward with

RMB internationalisation and capital

account liberalisation in a sound

and orderly manner, while ensuring

that the risks are controllable, and

forestalling any systemic or regional

financial risks. [When implementing

these measures], we fol low three

principles. First, we adopt a macro-

prudential approach in managing

pr ivate and public external debt

so as to avoid large-scale currency

m i s m a tch . S e co n d , we co n d u c t

necessary monitoring of cross-border

financial trade. Third, we maintain

appropriate control over short-term

speculative cross-border types of

loans.

According to the 13th five-year plan,

in the next five years from 2016 to

2020 China will continue to widen

the opening of its financial sectors,

realise RMB convertibility and capital

account opening in an orderly manner

and make the RMB a convertible and

freely useable currency.

However, considering capital account

convertibility is a complicated and

long-term issue, China has no [fixed

timeframe]. On the contrary, it is the

market that determines how fast it

can go and how long it takes to reach

certain goals. [When implementing

these measures] , the PBOC w i l l

“I hope that by the end of my speech you will have more confidence in investing in China and are more interested in using the RMB.”

Jin Mei, Chief Representative,

People’s Bank of China Representative Office


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38

evaluate all the difficulties that might

ar ise ahead and make necessar y

preparations in line with established

pr inc ip les of bet ter ser v ing the

economy, facilitating investment and

trade, and preventing risks.

The third point I want to talk about

is that China welcomes international

investors to tap the country’s stock

market and create a win-win situation.

In recent years, China’s stock market

has developed rapidly and it is now

taking the lead globally in terms of

speed. In terms of size, China’s stock

market has risen to third in the world

and the country’s corporate bond

market is ranked second. As China’s

economy enters a New Normal, and

the country’s reform enters deep

waters, China’s stock market will

see more emphasis on innovation,

coordinat ion, g row ing , opening

and sharing. China will gradually

improve its market environment so

as to attract, retain and benefit more

and more issuers and investors. In

the future, China’s stock market will

continue to grow at a reasonable

speed and meet the growing financing

demands of the real economy. Also

in l ine with demands of the real

economy, China will promote product

and markets innovation in the bond

market and enhance risk resolution

as well as investor protection. Along

with the general trend of financial

market opening up, China will further

open its bond market, allowing more

foreign issuers of different types into

the interbank stock market, widening

the spectrum of foreign institutions

issuing RMB bonds, encouraging more

offshore investors to participate in the

interbank bond market, enhancing

investor structure and promoting self-

discipline among foreign issuers and

investors.

Finally, I will spend some time talking

about RMB business in the UK and

the deve lopment of the London

offshore RMB market.

In 2015, total receipt and payment

a m o u n t f o r c ro s s - b o r d e r R M B

business between China and the UK

reached about 290.4 billion yuan,

increasing 10.5% compared with the

previous year. Cross-border RMB

receipt and payment for bilateral

trade reached about 153.4 billion

yuan, increasing by 112.7% year-on-

year and accounting for 31% of total

import and export between China and

the UK.

In January to April this year, the total

receipt and payment amount for cross-

border RMB business between China

and the UK reached about 88.6 billion

yuan, cross-border RMB receipt and

payment for bilateral trade reached

about 52.5 billion yuan, accounting

for 36% of total import and export

between China and the UK.

[But] there is still great potential for

use of RMB in settlement between

China and UK.

As an international financial centre,

London can play a unique role in the

process of RMB internationalisation.

Together with the UK Treasury and

Bank of England, the PBOC would

like to further financial and monetary

cooperation between China and the

UK and promote the diversification of

the international monetary system.”


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39

Chinese Banks Ready for RMB Internationalisation?Sir Gerry Grimstone Chairman, Standard Life; Deputy Chairman, Barclays

“Looking ahead, it’s easy to see why the

United Kingdom government, the City, senior

practitioners such as myself, are attaching

such importance to China. It is with the

expectation that, at some point in the future,

China will be the world’s largest economy. It’s

very, very important that London positions

itself to be the international offshore centre,

the international intermediary for China.

And it’s not accidental, therefore, that this

is a topic that the British government, at its

highest levels, pays so much attention to. And

it’s also clear because of the advantages to

China, as well as to London, why the same

thing goes for the Chinese government.

One day the renminbi will not just be in the

top five of global currencies, it will certainly be

in the top three of global currencies, sharing

equal status with the US dollar and the Euro.

London at the moment accounts for more than

half of all global offshore trading in the renminbi.

London’s position in the renminbi market is

greater than all renminbi centres put together, not

Internationalisation of ICBCGu Shu, Senior Executive Vice President, Industrial and Commercial Bank of China

“ICBC is the biggest RMB bank and we are

becoming quite international.

ICBC currently has about RMB22 trillion

in assets and on the liability side it’s RMB16

trillion. Last year’s annualised profit was

roughly RMB27 billion. We have quite an

extensive RMB customer base: five million

corporate customers and 500 million retail

customers. For RMB business we currently

have six overseas branches and have been

designated by the People’s Bank of China as

the official clearing bank. In Europe, we have

a Luxembourg branch; we are in America and

we also have some clearing banks in Asia – a

Singapore branch and two other branches. So

we can handle RMB clearing on a real-time

basis, 24 hours, around the clock.

Beyond that, we presently have 42 countries

and regions where our overseas branches can

provide services, especially RMB services, to our

customers; so we are becoming more and more

international. So on one hand we can provide

two-way service, to better service our overseas

customers and help them better understand

China. On the other hand, we help our Chinese

customers access overseas markets.”


cover story

40

least because of the activities of ICBC.

What are the consequences of that going

forward? I think it’s underestimated

w h a t t h e co n s e q u e n ce s a re f o r

Chinese banks, such as ICBC, of this

globalisation of the renminbi and the

internationalisation of the renminbi.

By 2049, the 100th anniversary of the

foundation of China, I expect Chinese

banks to be amongst the world’s global

banks. Not just very large in China,

obviously, but very large in their global

positioning as well. And this is helped

by the fact that European banks, such

as mine, I’m the Deputy Chairman of

Barclays, we are pulling back from our

global operations. Barclays is in the

process of exiting 26 countries around

the world, countries where we’ve had

business for many, many years. And I

expect that vacuum will eventually be

taken up by the Chinese banks, driven by

the internationalisation of the renminbi.

So, it’s not for me to give (ICBC

Chairman) Mr Gu advice, he’s a very

fine banker. But what do I think

Chinese banks have to do to grasp

this huge opportunity presented by

the internationalisation of the RMB?

First, as we heard earlier, they do have

to become more market-oriented.

And when they are carr y ing out

functions for the State, the very, very

important functions they do for the

State, they will have to increasingly,

I think, do it transparently, and as a

discreet part of their operations; as

opposed to being mixed in their day-

to-day operations.

Their international risk frameworks

will have to be brought up to global

standards, because this will allow them

to take more risks. At the moment, we

see Chinese banks not taking as much

risk as we would expect them to take,

given their standing and their status.

And I think this is purely because their

global risk systems are not yet fully

advanced. Their top management,

who I’m absolutely certainly will still

be Chinese in the year 2049, will all

have spent time working overseas,

l iv ing overseas. So we wil l have

international expertise at the top of

the Chinese banks.

They will become more confident in

employing talented local people in

their international operations. The

European banks, the American banks

Internationalisation of ICBCGu Shu, Senior Executive Vice President, Industrial and Commercial Bank of China

have always been very confident in

employing people at the highest level

from outside their core country. I

think China will go down that route

eventually as well. To do that, they

would have to understand how to

retain expatriate employees, and how

to incentivise them, going forward –

neither of which is easy for Chinese

banks. I’m sure they will become

major players in the capital markets,

not just in relation to China business,

but more generally to global flows.

And I think they will develop a much

greater advisory capability to help

Chinese companies go global.

They will almost certainly run their

international businesses from London.

It’s no accident that American banks,

European banks, run their international

businesses from London. Ten years, 20

years from now, I expect Chinese banks

to run their international businesses

from London. As for European banks,

of course we’re all very excited, very

interested in the renminbi business, and

we will surely capture a slice of that.

But I think increasingly, we will look

to partnership with the major Chinese

banks, to do things together with them.

So I think the golden decade of UK-

China relationships is going to bring

great opportunities for both sides.

I think it will be a great benefit to

London. And I think that will be at

the expense of New York, and also,

I would say, Hong Kong. I think

London will eventually become the

dominant offshore financial centre for

the renminbi.”

“London will eventually become the dominant offshore financial centre for the renminbi.”


cover story

41

Paris


cover story

42

The stop in Paris, held at the Université Paris Dauphine on May

25, was a fitting end to the 2nd CEIBS Europe Forum with two

case studies that drove home the point of just how much can be

achieved through collaboration. Chairman of Cathay Capital Cai Mingpo

(EMBA 2004, CEO 2009) and Chairman & CEO of Biostime Luo Fei (EMBA

2006) spoke about their inspirational entrepreneurial experiences around

the theme of “Business Opportunities in China and France: Win-Win

Collaboration”. Cai Mingpo, the master of a €1.3-billion fund, has humble

roots in a fishing village in Fujian. Luo Fei’s Biostime is the first Chinese

company in history to acquire a French cooperative. How did Luo break

through the cultural and legal barriers encountered throughout the process?

“Because I knew exactly where we were going, so I was determined, fearing

nothing,” he said.

Here are excerpts from their speeches:

Win-win for Chinese & French Enterprises


cover story

43

Cai Mingpo:Good People Can Turn Hell into Heaven

Now we have €1.3 billion in our fund,

and we have an innovation fund of

€250 million, a very lucrative fund for

small enterprises, and we established

a fund of €500 million for medium-

sized enterprises in 2014. Our partner

in China is the National Development

Bank (NDB), and ours is the foreign

fund receiving the largest investment

from the NDB. We have over 50

employe es f rom China , Fr ance ,

Germany and the US, we have made

investments in nearly 60 enterprises,

among which are French and Chinese

c o m p a n i e s . T h e i r t o t a l a n n u a l

turnover reaches €5 billion.

We have transactions nearly every

week. We must sell shares, and we

often make acquisitions. Often I stay

the first two weeks in the US, the third

in China, and the fourth in France. I’ve

been repeating that pattern a lot, and

“I was born in a fishing village in

Fujian and our culture can be summed

up in the following words: ‘When you

enjoy fruit, do not forget those who

planted the tree’. Twenty-seven years

ago I came to France; I did not know

even a word of French. I first got to

Orleans, where I learned French, and

later I entered EMLYON Business

School. After graduation, I joined

Groupe SEB (a French manufacturer).

I am what I am today, because of the

help many people gave me. When I

was 24, SEB sent me back to China,

and I got a lot of sales for its products.

Three years later, I decided to start

my own business, and went back

to Orleans. At the time I went into

French villages to sell tombstones, and

I learned a lot from the business. The

most important thing is, if you have

good products, and you are honest,

your business will grow.

I can say France gave me everything,

and I feel proud of my origins here.

I went back to Shanghai for my CEIBS

EMBA studies in 2004, and prepared

to create a fund with a French partner.

Cathay Capital (France) was formally

launched in 2007, with €70 million,

which was too enormous for me

at the time. Caisse des dépôts et

consignations (CDC, Deposits and

Consignments Fund) gave us a lot of

support then, because they thought

Cathay’s strategy was correct. We

would help French companies to

start business in China, and Chinese

companies in France, and we would be

facilitating cultural communication.

We would not only do business, but

also contribute to the economies of

both countries, and only in doing so

could we earn their trust and create a

win-win situation.


cover story

44

I have to have the three countries’ maps

with me all the time.

We have over 50 employees, so how can we

get them to work in sync? To accomplish this

I introduced the values of a Fujian fishing

village. Fujian people strongly believe that

‘fraternity prevails’, that there is friendship

and amity between people after all the gains

and losses. In my organisation, people think

it is our common effort even when I do

only 1% of the work and they get the other

99% done. We have a round structure, and

you get to be at the centre wherever you

want. There are no fixed central points, and

no headquarters. We span three continents,

and it won’t do to have a hierarchy. We have

no conflicts over power and self-interest. We

just hold good people together, and as long

as they are together, hell can be turned into

heaven. On the other hand, if you have bad

people together, you’ll have hell even if you

are in heaven.”

“We have no conflicts over power and self-interest. We just hold good people together.”

Luo Fei: Resources, Technology and Market“I’ve been working with French companies for 16 years.

In 2000, when I first came to Paris, getting a visa was

still very difficult, but now I have got my five-year visa,

and can come and go as many times as I wish. I founded

Biostime in 1999 to establish my own brand, and to help

more people in need. At the time I found there was the

issue of antibiotic abuse in China, which particularly

affected children. I majored in bio-engineering, and I

know probiotics can help children. So I collaborated with

LALLEMAND SAS, using our brand in China to sell their

products.

Then, probiotics for children was a brand-new concept

in China. We went into the market and many moms were

shocked at the name. They would say things like, ‘are you

telling me to feed germs to my baby?’ We benefited from

France’s premium biotechnology, the products had great

features, and we created a market in innovative ways.

Today we still hold 80% of the market share in China

for this kind of product. All our probiotics come from

French companies, and so we are contributing to the

French economy as well.

In 2008, when we were considering how our company

was to grow, we decided to produce infant milk powder.

At that time such products had been highly standardised

in China, with everybody producing the same product,

at the same price. We thought that we must create new

needs. People do not naturally need milk powder; they

can drink human milk. So, when you want to produce


cover story

45

infant milk powder, you have to

set the quality standard as near to

that of human milk as possible. We

thought about developing better

products to meet this need. So I

worked with a French company on

this project, focusing our efforts on

the development of premium infant

milk powder. When our product

was released, it was priced twice as

much as ordinary products, but it

helped the assimilation of infants, and

significantly lowered their rates of

constipation.

I always believe: the market is always

there. It’s just how you develop and

satisfy needs.

Eventually we decided to invest in

a French company, Isigny Sainte

Mere, for our premium products.

At the t ime, many people asked

me why we invested in Isigny, and

my answer was: because we needed

resources. Normandy has a very good

environment, good cows producing

high-quality milk, and they have good

technology accumulated over the years

in producing infant milk powder. It’s

their ‘resources + technology’ that

we craved; meanwhile we have huge

market demand in China. So, we

call this pattern ‘RTM’: Resources,

Technology, and Market.

Both sides set goals, things we must

do, and must achieve through any

possible means. During the acquisition

p r o c e s s , w e s o l v e d m a ny l e g a l

problems. For example, according to

EU law, I could not become board

member of the company, because I

was not an EU resident, but this was

hardly acceptable to a founder of a

company. But later we found a way

out. We arranged for another member

of the company to be a board member,

a n d i nv i t e m e to m a ke a g u e s t

appearance at every board meeting.

The problem was solved in this way.

So I think the important thing behind

any collaboration is to set goals and

achieve them.”

“The important thing behind any collaboration is to set goals and achieve them.”


cover story

46

SPECIAL THANKS TO:

Co-Organizers: Strategic Partners:

ZURICH EVENT:

MUNICH EVENT:

Organizers:

Strategic Media Partners:

Strategic Partners:

Partners:

Organizers:

Strategic Partners:

Partners:

LONDON EVENT:

Co-Organizers:

Supporting Organizers:

Partners:

Special thanks to:

Strategic Media Partners:

Media Partners:

PARIS EVENT:


cover story

47

By Yu Haitao & Cherry Xia

Sustainable Solutions Boost Goodwill

Sustainability is no longer a novel idea. What is

interesting to note, though, is that companies have

a variety of ways to develop initiatives through

which they can convey their own interpretation

of the word. These initiatives often include the idea that

sustainable development is closely linked to modern

business practices, and some leading global companies have

become pioneers in this respect.

For example, in 2005 General Electric (GE) came up

with the concept of “Ecomagination”. After a decade of

development, the company’s green products include planes,

motors, engines, clean coal technology and water treatment.

They combine profitability with energy and environmental

conservation solutions. Similarly Nespresso has become one

of the fastest growing departments within Nestlé, primarily

because it established agricultural, technological, financial

and logistical companies in each of its coffee producing

areas, providing support for improving the quality and

efficiency of local coffee production.

Why are enterprises making sustainability a priority?

Answers may be found in the fact that many of them have

seen the results of their goodwill pay off in the form of

strategic competitiveness: Brand awareness. This makes customers, particularly

those in developed markets, more loyal to the brand

and more willing to pay a premium for its products or

services. Talent pooling. Employees can find meaning in their

work and are therefore more loyal to a company that

has a greater sense of responsibility and duty. Improved efficiency. Saving energy and reducing

emissions can significantly reduce a company’s costs. Maintaining relationships. Companies make strategic

investments in order to maintain good relationships

with stakeholders, in a “social contract”. Such

investments are sometimes defensive, for example to

meet higher policy requirements from the government.

Sometimes they are an active investment that is aimed,

for example, at fostering a better environment for

community operations. Innovation. This is often the most important and

strategic reason. It can be operational and managerial,

aiming to improve efficiency, or it can involve changes

in business models. For example Michelin transformed

itself from a tire seller into a mileage seller through its

“Fleet Solutions”.

Read on to learn about four cases studied by the CEIBS

Euro-China Centre for Leadership and Responsibility

(ECCLAR): -

ceibs KNOWLeDGe

48


Dow: Innovate for the envIronment

Dow is a diversified multinational chemical industry

giant that leverages the power of science, technology, and

the “human element”. As far back as 1995, Dow decided to

focus on areas such as environmental protection, along with

the mental and physical well-being and security of people.

It planned to achieve its goals in these areas over the next

decade with an investment of US$1 billion. Surprisingly,

achieving these goals lowered emissions and reduced its

costs, resulting in cost savings of over US$5 billion.

Dow set even higher goals in 2006, developing several

groundbreaking products to meet this “2nd-generation

sustainable development” initiative. For example, together

ceibs KNOWLeDGe

49


with Dow, Haier Group developed the first Casarte eco-

friendly washing machine enabled with DOW Ultrafiltration

(UF) Technology, a kind of technology that enhances the

cleaning effect of laundry detergent so that washing a load

of laundry requires less water. In the life cycle of the average

washing machine, the technology can help to save as much

as 70 tons of water, nearly 1,300 kwh of electricity, and the

CO2 emission reduction amounts to the planting of six trees.

Another example is the Omega-9 healthy oil independently

developed by Dow. Since 2005, it has helped North Americans

reduce their intake of trans-fats and saturated fats by over 1

billion pounds, contributing to lowering the number of cases

of heart disease and Type-II diabetes.

mary Kay: entrepreneurshIp that supports women

After being the victim of gender discrimination, Mary Kay

resolved to help women achieve success both in career growth

and personal wealth. From a small makeup display room in

Dallas, Texas in 1963 she launched what today has become a

thriving cosmetics company that has provided job opportunities

for over 3 million people, most of whom are women.

Mary Kay established the Women’s Entrepreneurship

Fund in China, and encourages women to participate in its

cultural industry projects. During the 2016 Autumn and

Winter Shanghai Fashion Week, the Fund presented designer

works featuring a combination of ethnic Yi embroidery

from Yunnan in China and Nepalese cashmere in a fashion

show. The event, which had “Lost & Resurfacing” as its

theme, raised funds for the victims of the Nepal earthquake

who were still struggling for survival. The Yi embroidery

work was done by women weavers who have benefited from

the Mary Kay Women’s Entrepreneurship Fund.

tff: CreatIng a platform for BusIness InnovatIon

Thought for Food (TFF) is an innovation platform

created by the Swiss agricultural giant Syngenta. Through

an entrepreneurship contest that asks the question “How do

we feed 9 billion people?” it challenges teams of university

students around the world to develop innovative businesses

that propose solutions.

TFF introduced counsellors, tools and other resources

to help competing teams put their ideas into practice, and

realise their business plans. By 2015, TFF had successfully

incubated 10 start-up companies in agricultural technology

innovation, among which “Vertical Farm” has begun its

commercialisation phase through its cooperation with TFF.

TFF provides a platform for young people around the world

ceibs KNOWLeDGe

50


non-profit institutions and social enterprises) improve their

abilities, coordinate community resources (capital, venues,

and personnel) and form a leadership network. Ultimately,

they leveraged more than US$3.8 million in government

financial support by investing US$400,000 and 10,000

volunteer hours.

Traditionally, many people perceive business as the

source of social and environmental problems. However,

the four examples here illustrate how business can provide

sustainable solutions. It can be argued that the resource rich

business sector (in the US, corporate revenue was seven

times the income the government earned from taxes in

2013) is well positioned to tackle these issues head on. More

importantly, businesses can scale up once solutions prove to

be effective.

About the euro-ChinA Centre for LeAdership And responsibiLity (eCCLAr)

CEIBS is committed to educating

socially responsible leaders versed in

“China Depth, Global Breadth” in line

with its motto of “Conscientiousness,

Innovation and Excellence”.

Since its founding, CEIBS Euro-

China Leadership and Responsibility

Research Centre (ECCLAR) has

been committed to the research and

teaching of the social and environmental development

problems China is facing. ECCLAR strives to improve the

awareness and ability of enterprises to realise sustainable

development, to push for responsible business practice,

and to help companies integrate sustainable development

into their strategies, in order to realise both profits and

sustainable development.

For more information about the centre, visit http://

en.ceibs.edu/leadership-and-responsibility

who are passionate about agriculture to “turn their crazy

ideas into business opportunities”. Through this project,

TFF has facilitated innovation in the sector.

Earlier this year, TFF became an independent non-

profit foundation, providing opportunities for more

companies to leverage this new era with fresh knowledge

and new technology.

svp: Develop soCIal purpose organIsatIons wIth BusIness

aCumen

Venture Philanthropy (VP), an innovative investment

and philanthropy approach that applies business acumen

to the development of social purpose organisations is

becoming increasingly popular.

Mark Holloway is Executive Director of one such

venture philanthropy organisations based in Portland,

USA, a company called Social Venture Partners (SVP). In

March 2016, Holloway shared his experiences in public

welfare entrepreneurial investment. He explained that, to

answer a need for early education in the local community,

SVP had helped a number of social organisations (including

ceibs KNOWLeDGe

51


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Longcheer GroupLiu Ji Education FundInfineumEasyfinance Management ConsultingWu Jinglian Academic FundMr. ZHOU Zongming (EMBA2004)

TCL巴可创天昱科技帝亚吉欧风神集团国家开发银行华泰证券环球资源嘉华集团景林资产敏华控股三全食品上海家化集团上海金桥集团

TCLBarcoCTK Co., Ltd.DIAGEOFengshen GroupChina Development BankHuatai SecuritiesGlobal SourcesK. Wah GroupGreenwoods CapitalManwah HoldingsSanquan FoodShanghai Jahwa GroupShanghai Jinqiao Group

中欧校园基金 CEIBS Campus Fund上海氯碱化工上海大众汽车彤程集团万得资讯沃尔沃西班牙 IDOM 设计集团西班牙政府远东控股集团柘中集团中国电信上海公司中国石化上海石化

Shanghai Chlor-Alkali ChemicalShanghai VolkswagenRed Avenue GroupWind InfoVolvoIDOMSpanish GovernmentFar East Holding GroupZhezhong ElectricChina Telecom ShanghaiSINOPEC Shanghai Petrochem

景林资产Greenwoods


Financier’s SalonsCEIBS continues to be a platform that brings together influential figures from the worlds of government, finance and academia for an exchange of ideas on matters of vital importance. Here are some recent events: CEIBS Baosteel Chair Professor Wu Jinglian gave the keynote speech on supply side economic reforms at the 86th Lujiazui Financier’s Salon held on April 18 in Shanghai. The event was co-organised by CEIBS Lujiazui Institute of International Finance (CLIIF) and the CEIBS Education Development Fund. CEIBS Zhongkun Group Chair in Finance and Director of the CEIBS Shoushan Centre for Wealth Management Prof Oliver Rui gave the keynote speech titled “Wealth Management in China: Eye of an Epoch” at the 87th Lujiazui Financier’s Salon held on April 23 at CEIBS Beijing Campus. The 1st CEIBS World Bank Inclusive Finance Salon and 88th CEIBS Lujiazui Financier’s Salon were held on May 23 in Shanghai. Director of CEIBS-World Bank Centre for Inclusive Finance Wang Jun, who is also CEIBS Adjunct Professor of Finance, gave a keynote speech on “National Strategy of Inclusive Finance”. China Banking Regulatory Commission’s Shanghai Director Liao Min, Chairman of Maanshan Rural Commercial Bank Sun Xiao, and Co-Founder of Internet Finance Thousand Friends Cai Kailong also participated.

Healthcare Forum 2016“Coordinated Reform of Medical Services, Medical Insurance, and the Pharmaceutical Industry” was the theme of CEIBS 12th Annual China Healthcare Forum 2016 held on June 18 at the Shanghai Campus. Speakers included President of China Health Insurance Research Association and Former Vice Minister of the Ministry of Human Resources and Social Security Wang Dongjin; as well as Director

of the Shanghai Municipal Commission of Health and Family Planning Wu Jinglei. CEIBS Chinese President Prof Li Mingjun gave the welcome address and Director of the CEIBS Centre for Health Care Management and Policy Prof John Cai also participated.

Faculty Shine During Accounting Summit CEIBS Associate Dean, Prof Xu Dingbo and

Prof Hwang Yuhchang were named to the North Asia Management Accounting Leaders Think Tank (CGMA 100) during the North Asia Management Accounting Leaders’ Summit held at CEIBS Beijing Campus on June 8. During the event, Prof Xu Dingbo was also chosen to be the Think Tank’s first chairman. CEIBS Vice President and Dean Ding Yuan was also among those who participated in the event.

Prof Wang Jun

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Transforming China’s Innovation CapacityThe three waves of innovation that have driven China’s epic economic transformation over the past three decades were the focus of lectures in Shanghai and Beijing on June 15 and 16, respectively, by CEIBS Professor of Strategy George S Yip and CEIBS Visiting Professor of International Business Bruce McKern. They were speaking during the launch of their new book, China’s Next Strategic Advantage: From Imitation to Innovation. The book covers findings of research work done by both professors and their team at the CEIBS Centre on China Innovation.

Innovation Forums Platform strategy, entrepreneurship and talent management were the focus of discussions at the 2016 CEIBS Innovation Forums held in Hangzhou, Xian and Changsha on April 22, May 27 and June 7 respectively. Vice Chairman of Lander Holdings Tao Chun hosted the Hangzhou event, while CEIBS Vice President and Co-Dean Prof Zhang Weijiong gave the welcome speech. Associate Professor of Management Chen Weiru gave a lecture titled “Transformation of the Platform: Self-Revolution of an Enterprise to Shine Again”. Alibaba Local Life Business Group GM Wang Lijuan,

Transfarchem Group Senior Vice President Chen Xuping and Beingmate GM Yuan Fang participated in the panel discussion. CEIBS Professor of Management Practice Gong Yan gave a lecture titled “Sharing Economy and Entrepreneurial Innovation” at the Xian event, with Xiaozhu.com Founder and COO Wang Liantao, Dakashuo.com Founder Hao Zhizhong and Dadashunfengche.com Founder Gong Tao participating in the panel discussion. In Changsha, Associate Dean (Europe) and Bayer Chair in Leadership Professor of Management Katherine Xin shared her latest research findings on the talent challenges and

organisational changes happening in China in the wake of its recent great wave of innovation. Sannuo Founder Li Shaobo, Senior Vice President of Sany Group He Dongdong, and Chairman of Panzi.cc Yang Jian participated in the panel discussion.

1st Global VR ConventionCEIBS Crowd Innovation Platform co-hosted the first Global Virtual Reality (VR) Convention at the school’s Conference Centre at the Shanghai Campus. The five-day event began on June 8.

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Marketing Conference“Marketing in the Digital World” was the theme of the 1st CEIBS Marketing Conference which brought around 120 scholars from the US and Asia to the CEIBS Shanghai Campus on June 15. They discussed the latest trends and innovations in marketing practice, and how it is being impacted by digital technology. Organised by faculty from CEIBS’ Marketing Department, the conference aims to build a platform for marketing scholars around the world to share their latest research findings and accelerate the Department’s academic development. Six papers covering diverse disciplines of marketing were selected for discussion; 21 presenters, keynote speakers and discussants from top schools in the US and Asia participated. CEIBS Assistant Professor of Marketing Lin Chen moderated.

Sustainable Energy ForumMembers of the CEIBS Alumni Automobile Association as well as alumni working in the renewable energy sector were among the attendees at the CEIBS Sustainable Energy Forum held June 2 at the Shanghai Campus. Speakers included Li Haiyan, China representative to the United Nations Framework Convention on Climate Change, President of Trina New Energy Investment Huang Longxing, CEO & Founder of Clean

Energy Assoc ia tes Andy K lump, and Marketing Director for Dong Feng Nissan’s Venucia Business Department Lin Ping.

Industry 4.0 in ChinaAre the automated, interconnected and intelligent production processes of Industry 4 .0 be ing adopted by ente rpr i ses in developed countries a step too soon for Chinese manufacturers, or a springboard that will enable them to leapfrog ahead of

their competitors? This question was the focus of a lively discussion with eight industry experts at the “In Charge of Change” Forum co-organised by the CEIBS Innovation Club and sponsor Swisslog that was held May 9 at the CEIBS Lujiazui Institute of International Finance (CLIIF). CEIBS Phil ips Chair in Strategy and International Business Professor Klaus E Meyer moderated.

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Prof Liang Neng Inducted as IACMR PresidentDirector of CEIBS Case Development Center and Professor of Management Liang Neng was inducted as IACMR President for a two-year term at the 7th Biennial International Association of Chinese Management Research (IACMR) Conference held in Hangzhou June 15 to 19. CEIBS hosted a networking cocktail reception for participants during the Conference and the school’s Vice President and Dean Ding Yuan was a panellist during the Deans Symposium. Several CEIBS faculty presented papers for discussion during the sessions. Besides Dean Ding and Prof Liang Neng, participating faculty were: Associate Professor of Management Pablo Cardona; Associate Professor of Management Chen Weiru; Professor of Organisational Behaviour and Human Resources Management Tae-Yeol Kim; Professor of Management & Michelin Chair Professor in Leadership and HR Jean Lee; Philips Chair Professor of Strategy and International Business Klaus E Meyer; Assistant Professor of Management Sebastian Schuh; and Associate Dean (Europe), Professor of Management & Bayer Chair in Leadership Katherine Xin.

Prof Rui Addresses Business GroupsCEIBS Zhongkun Group Chair in Finance Professor Oliver Rui was a much sought after speaker at corporate and media events in May. He was the invited keynote speaker at AmCham Shanghai’s monthly briefing May 3, where he spoke about the state of the Chinese economy and did a video interview. A day later he flew to Beijing where he gave a lecture to

members of the Foreign Correspondents Club of China on how internet finance and mobile banking is impacting the traditional banking industry.

LeTV Forum“LeTV Eco-sys tem: Bus iness Mode l Innovation and New Trends in Eco-system Marketing” was the title of a forum held on May 13 at the Beijing Campus. CEIBS

Associate Dean (Exec Ed) and Professor of Marketing Wang Gao as well as Assistant Professor of Marketing Lin Chen attended, along with President of LeTV Eco-system Marketing Zhang Minhui (EMBA 2010), and LeTV Eco-system Marketing National Strategy GM Li Rong.

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New Home for CEIBS eLabLeading venture capital investors, CEIBS faculty and student along with alumni entrepreneurs celebrated the new home of the CEIBS eLab on the ground floor of the Spanish Centre on the Shanghai Campus during an event June 7. Attendees from the investment world included Mytech General Partner John Yu, Strategy Consultant to Intel Maker Space & Startup Accelerator and Chairman of Shanghai WECAN Investment Co Brent Li, as well as Partner at DreamT Incubator Christina Yang. The investors heard business pitches from eLab participants who include both students and alumni from the MBA, Global EMBA and EMBA Programmes.

Faculty Visit SAIC General MotorsCE IBS f acu l t y v i s i t e d t he Sha ngha i headquarters of SAIC General Motors on April 19. CEIBS participants included Vice President & Dean Professor of Strategy Zhang Weijiong, Professor of Marketing Lydia Price, Professor of Marketing Zhou Dongsheng, and Professor of Accounting Chen Shimin. Attending on behalf of SAIC were SAIC-GM Office Director Zhou Yan, Senior Manager of the automaker’s New Energy Development department Zhang Bo, and Marketing Director of Human Resources Niu Jieling.

Football FeverCEIBS faculty got a first-hand look at China’s rapidly developing sports industry during a visit to Shanghai Greenland Shenhua Footbal l Club on May 4. Pres ident of Greenland Shenhua Wu Xiaohui (EMBA 2007) and Executive Vice President Zhou Jun welcomed the CEIBS group, and led them on a tour of the Club’s training facilities. Participating faculty were Associate Professor of Management Daniel Han Ming-Chng, Associate Professor of Management Pablo Cardona, and Associate Professor of Marketing Xiang Yi. Club spokesperson

Ma Yue, and Office Director Zhou Xin also participated.

Highly TourCEIBS Vice President and Co-Dean Prof Zhang Weijiong and EMBA Deputy Director Weldon Lai led a group of students from CEIBS programmes in Shanghai, Beijing and Shenzhen on a visit to the manufacturing and R&D divisions of Highly Group in the Pudong New Area of Shanghai on April 21.

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MBA Class of 2016 GraduatesSchool leaders encouraged the CEIBS MBA 2016 cohort to be “responsible leaders who will shape the China of tomorrow and impact the entire world” during their addresses at the Graduation Ceremony held April 23 on the Shanghai Campus. DSM China President Dr Jiang Weiming emphasised the importance of responsibility, innovation and leadership in his keynote speech.

Career Advice from Former Morgan Stanley Europe COO May Busch, former COO of Morgan Stanley Europe, was invited by the CEIBS Women’s Leadership Network to give a workshop at the Shanghai Campus on May 4. The author of the newly published book Accelerate: 9 Capabilities to Achieve Success at Any Career Stage showed students how to discover their competitive advantage in their businesses, within themselves, and by working more effectively with others. Following the workshop participants had the chance to network with members of the Shanghai branch of the Women’s Leadership Network.

Best China-Focused Case Winners The winners of the first global case competition co-organised by CEIBS, the Shanghai MBA Case Development and Sharing Platform, and the Global Platform of China Cases were announced in May. A case co-authored by CEIBS Associate Professor of Management Chen Weiru tit led “O2O Transformation in Rongchang Laundry Chain Services: Incubating an ‘e-Washing’ Platform” was one of the two final winning cases. CEIBS faculty and research staff co-authored two of the seven Nominated Award Winning Cases. They were: “KEMET’s Chinese Integration

Team (A)(B)(C)(D)” by Katherine Xin and Zhong Jin; and “Li-Ning Co Ltd: A Leading Chinese Company Stumbles” by Daniel Han Ming Chng and Zhao Ziqian. The competition aims to promote research on unique management issues in the Chinese environment from a global perspective. Almost 300 entries from institutions in 11 countries across Asia, Europe and North America were submitted.

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2016 MBA Employers HonouredNearly 30 Chinese and multinational companies were honoured for their support of CEIBS and its MBA graduates at the Employers’ Appreciation Workshop held May 25 at the Shanghai Campus. Organised by CEIBS MBA Development Centre, the event was attended by more than 120 executives from nearly 100 companies. Both long-term and new partners participated, including AB InBev, AkzoNobel, Amazon, AstraZeneca, A. T. Kearney, Bank of America Merrill Lynch, Bayer, BP, Carrefour, Corning, Disney, DuPont, Eli Lilly, Ford, Fosun, GE, Honeywell, Industrial Securities, Morgan Stanley, Microsoft, Roland Berger, Roche, Sanofi, Tencent and Uber. In addition to the awards ceremony, participants enjoyed a keynote speech titled “Inspire from Within” delivered by Chip McFarlane, Founding Director of IECL and a Master Certified Coach.

EMBA 2016 Cohort WelcomedThe opening ceremony for the CEIBS 2016 EMBA Spring Class was held on May 21 at the Shanghai Campus. Five outstanding a lumni were honoured wi th the 2016 “Zenghua” Award during the ceremony. They were: 2005 EMBA Hu Jianbo, 2007 EMBA Zhang Qiming, 2009 EMBA Long Yu, 2011 EMBA Zhang Jijun, and 2012 EMBA Ou Shufang.

Destination ManagementThe CEIBS 2016 Overseas Study Tour Series brought participants to Zurich from May 23 to 27 for a programme titled “Managing Holiday Destinations: Decoding Management and Operation of Recreational Properties in Switzerland”. Led by CEIBS Associate Dean (Europe) Professor of Management & Bayer Chair in Leadership Katherine Xin, the programme included classes at CEIBS Zurich Campus complemented by company visits

to Weisse Arena Gruppe, Grand Resort Bad Ragaz, Andermatt Holiday Region, the five star hotel Chedi Andermatt, and the Sihlcity shopping and leisure centre.

EMBAs Celebrate 5-Year ReunionMore than 200 CEIBS EMBA 2009 alumni from around the world gathered at CEIBS Shanghai Campus on May 7 for their fifth-year reunion. The event was co-organised by the Alumni Relations Office and the EMBA Programme.

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EMBA 2015 Class Leader MeetingCEIBS Chinese President Prof Li Mingjun, Vice President and Dean Prof Ding Yuan and Deputy Academic Director of the EMBA Programme Prof Su Xijia met with EMBA 2015 Class Leaders during their “Happy Heroes” Harmony: Spring and Autumn Meeting held in June in Hangzhou. The school leaders shared recent milestones in CEIBS’ development and thanked participants for their efforts. Participants also took part in a 13 km hike from Meinvfeng to Shili Langdang.

Exec Ed in AfricaFifty business executives and political leaders from Nigeria and 10 Africa-based Chinese managers from the state owned Aviation Industry Corporation of China (AVIC) attended a four-day Executive Education Programme titled “Economic Environment” in Lagos, Nigeria that began on Apri l 20. Taught by CEIBS Professor of Economics Bala Ramasamy, it is the first of four fully-funded Executive Education Open Programmes that CEIBS is offering this year as part of its corporate social responsibility initiatives in Africa.

China Africa Seminar SeriesAfrica’s role in China’s One Belt, One Road initiative and the internationalisation of Chinese companies were the focus of the first CEIBS-Tang Palace China Africa Seminar held on May 2 in Accra, Ghana. The event, which featured keynote speeches by Chinese Ambassador to Ghana Her Excellency Sun Baohong and CEIBS Vice President and Dean Professor Ding Yuan, attracted more than 100 executives f rom Ghanaian, Niger ian and Chinese companies. The Seminar Series is an initiative to enable executives in Africa to stay abreast of and discuss the latest China-Africa business themes with renowned scholars, officials, and

business leaders in various sectors.

2016 CEIBS Alumni Class Committee Meeting The 3rd CEIBS Alumni Class Committee Meet ing was he ld a t the Conference Hall on the Shanghai Campus on June 4 . Mo re t han 300 C l ass Commi t t ee representatives from over 200 classes for five programmes (MBA, EMBA, GEMBA, FMBA and Executive Education) attended. The Alumni Relations Office arranged a series of activities throughout the day to thank the representatives for their long-term contributions and support.

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Strategic Cooperation in Health Care CEIBS signed a Strategic Cooperation Memorandum with leading global medical technology company BD in a ceremony at the Shanghai Campus on June 7. The agreement will see BD cooperate with the CEIBS Centre for Healthcare Management and Policy to hold the 2016 CEIBS Hospitals’ Superintendents Salon, provide support to CEIBS MBA Medical Innovation Competitions, as well as find and support projects, teams and talents in the area of medical innovation. BD will also be actively involved in the "Qi Pu Accelerator" project launched by CEIBS and the China Healthcare Innovation Platform. CEIBS Vice President and Co-Dean Prof Zhang Weijiong and BD Senior Vice President and General Manager of Greater China Deng Jianmin each gave addresses during the ceremony.

Shanghai Science & Technology Commission CooperationCEIBS signed a Memorandum of Cooperation with the Science and Technology Commission of Shanghai Municipality on June 8 that will see both sides promote innovation and entrepreneurship through forums, talent development, and the establishment of the CEIBS Crowd Innovation Platform. CEIBS Chinese President Li Mingjun and Director of the Shanghai Science and

Technology Commission Shou Ziqi signed the Memorandum

Philips Hosts CEIBS Innovation TalkRoyal Philips hosted a CEIBS ‘Innovation Talk’ at their Amsterdam headquarters on May 30. In her address, the company’s Executive Vice President and Chief Human Resources Officer Denise Haylor noted that the relationship between CEIBS and Philips began more than

20 years ago and is still going strong. Philips is one of four Dutch multinational companies who sponsor research from the CEIBS Centre on China Innovation. Professors George Yip and Bruce McKern have collected those research findings in their new book China’s Next Strategic Advantage: From Imitation to Innovation, and they discussed them with the Philips’ executives during the Innovation Talk in Amsterdam.

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Can you still afford to ignore Asia?


Prosperity Fund InvestmentA ceremony to mark the strategic partnership between CEIBS and the Prosperity Fund was held on CEIBS Shanghai Campus on June 7. The Prosperity Fund will establish an entrepreneurship investment special fund worth RMB50 million to invest in start-ups incubated by the CEIBS community. It will also invest RMB5 million to support the eLab’s daily operation and fund a CEIBS MBA scholarship for five consecutive years. In his address during the ceremony, Prosperity Fund President Hu Jian’gang (EMBA 2014) noted that six Prosperity Fund shareholders are CEIBS alumni. CEIBS Vice President and Co-Dean Prof Zhang Weijiong signed the partnership agreement on behalf of the school.

CSC Group InvestmentChairman and President of CSC Group Shan Xiangshuang invested RMB6 million on behalf of his company to support several research centres and programmes at CEIBS. The funds will be used to support research, teaching and events of the CEIBS Centre for Family Heritage; CEIBS China Entrepreneurial Leadership Camp; and to establish the CEIBS CNW Family Heritage Research Postdoctoral Workshop. In addition, CSC Group and CEIBS have formed a strategic partnership to create an RMB50 million venture capital

fund to invest in entrepreneurship projects incubated from members of the CEIBS community. The investment agreements were signed during a ceremony at the CEIBS eLab at the Shanghai Campus.

Hong Kong Investment ForumThe 2016 CE IBS A lumn i Hong Kong Investment Forum was held at Hong Kong Island Shangri-La Hotel on May 14. Co-hosted by CEIBS Hong Kong & Macau alumni chapter and CEIBS Maple Club, keynote speakers included CEIBS Associate

Dean, Professor of Economics and Finance Xu Bin, Vice Chairman of Chinese Financial Association of Hong Kong and Fountainhead Capital Partner and Investment Director Pu Yonghao, Morningside Venture Capital partner Richard Liu (MBA 1998), as well as President of Blackland Group and former Chairman of Asia Pacific at Warburg Pincus Sun Qiang. China Vice Chairman and Chief Investment Strategist at Goldman Sachs Group Ha Jiming shared an analysis of current macro economic and investment trends as well as entrepreneurship opportunities.

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By He Fanghong

Solutions Always Outnumber Problems~ Meet Legal Luminary Zhang Jijun

More than two decades of practicing law has

given Zhang Jijun a clear picture of exactly

what he can bring to the table. A partner

in the Zhonglun Law Firm, specialising in

non-litigation business, including corporate restructuring and

IPO, he knows his value is in solving problems. It comes as no

surprise, then, that his motto is, “Solutions always outnumber

problems; nothing is beyond your reach”.

With an already impressive track record, he proved himself

yet again at the end of last year, by leading his team to provide

legal support for the launch of China’s first state-owned REIT

(Real Estate Investment Trust). The REIT is regarded as one of

China Merchants Securities’ innovations in real estate finance.

It has created a new vehicle through which state-owned

companies can realise mixed ownership reform.

Zhang, a CEIBS EMBA 2011 graduate, is also known for

his strong support to his alma mater, having recommended

five excellent candidates to the school’s EMBA Programme so

far. He received the CEIBS Golden Torch Award in May this

year, which recognises alumni and students who have made

remarkable contributions to the school’s EMBA admissions

process.

TheLINK recently sat down with Zhang to learn what he

enjoys most about practicing law, and how he has applied what

he learned at CEIBS to his career.

TheLINK: After so many years in the business, which of the

cases that you’ve worked on has been most satisfying for you?

I had a case where two people, A and B, co-founded

a company. A then opened another company which ran a

similar business and it became a rival. B asked A to leave their

company, but A refused. There is not a good legal solution to

alumni voice • linking in

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linking in • alumni voice

this kind of dispute since as a shareholder A was free to decide

whether or not to sell his share; no one else could intervene.

The negotiation went on for a long time, and B consulted

many lawyers who all gave him the same answer: no one can

force A to sell his share of the company if he doesn’t want to

sell. Negotiations had been at a stalemate for two years when I

got involved. To find leverage to negotiate with A, I conducted

a thorough investigation of A’s life experience, educational

background, family life, social relationships, personality, etc…

After our due diligence, I had some idea of how to negotiate

with him. Less than two weeks later, A agreed to a compromise,

and left the company without getting any money.

This case shows very clearly that solutions always

outnumber problems. Different cases require different

solutions, and you must be attentive and diligent to find a

solution.

In another case, a company had come up against a

critical legal problem while in the middle of its listing process.

Many sponsor firms and lawyers considered it a significant

obstacle, and thought there was no way the company would

be able to list. When we took over this project, we conducted

a thorough review and research of the issues and I concluded

that the company had not violated the law, only a policy

document. From a civil law perspective, based on an analysis

of finance, the company had entered into a new form of

contractual relationship, which is legal and valid. Finally, from

an investment banking perspective, I concluded that what the

company did was common practice in the industry. If that

behaviour became forbidden, the whole industry would be

undermined.

To my pleasure, during the review of the project, the

government issued a document which confirmed the

legitimacy of the company’s conduct. This outcome confirmed

our findings, and the company was finally able to list.

TheLINK: What qualities do you think a lawyer should

possess? How did your studies at CEIBS help you improve

your business capabilities?

For a lawyer, the ability to solve a problem is

really crucial

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legal angle, I need to take an investment

banking perspective and perform a multi-

dimensional analysis of the company’s

finance and business situations, core

competitiveness, and industry barriers. I

don’t only answer questions pertaining to

law, but also analyse financial statements

and a company’s investment value, in

order to judge whether the company

could be listed. I can be more competitive

this way.

Where did I obtain the knowledge

that enhances my individual value? From

CEIBS professors. For me, the most

helpful professors are those in finance

and accounting, including Professors

Ding Yuan and Xu Dingbo. Their courses

benefited me a lot.

TheLINK: You were recognised as

CEIBS’ Best Recommender [of potential

students] in South China, and now

you have received the CEIBS Golden

Torch Award. What are your criteria

when recommending talented potential

students to CEIBS?

CEIBS has its own criteria for

admission, but what are my criteria?

First I expect the candidate should be a

seasoned businessperson, because CEIBS

is a sharing platform, and you must have

value and experience that will benefit

others. Value is not related to success

or failure, but refers to the worthiness

of what you can share, which is really

important.

The second criterion is integrity.

How can you tell whether one has

integrity? My way to tell is by knowing

someone’s past experiences.

Third is morality. I often heard it

said at CEIBS that the school’s clients are

for more than 20 years. This area requires

a good knowledge of law, since the clients

need solutions more than legitimacy

and compliance. They also want you

to give suggestions from a finance and

investment banking perspective. We

often encounter questions about things

like the capitalisation of expenses, share-

based payment, earnings management,

and tax planning. Thus, we need to adjust

and improve our knowledge. Studying

at CEIBS filled my knowledge gap, and

gave me the opportunity to understand

finance, corporate finance and corporate

management in a more systematic and

clear way.

Now I’m focused on corporate

restructuring and IPOs. I am often asked

by entrepreneurs, “Do you think my

business can be listed?” To be honest, I

cannot answer this question from the

In the first place, a good lawyer

should have solid, basic skills; put

yourself in the client’s place to help him

solve the problem. There’s no excuse. You

must allow your client to get to know

you and your approaches to designing a

solution for his problem. For a lawyer, the

ability to solve a problem is really crucial,

and this ability depends on your expertise

in the law.

Next comes direct ion. A law

practitioner should make a plan for the

type of law they will practice, based on

their individual traits. In my case, I am

not fond of having to have a busy social

life in order to network, and prefer to

provide services for my clients based on

my expertise and experiences. Therefore, I

am more suited to the non-litigation area.

I got my practice certificate in 1994, and

have worked in the non-litigation area

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always easily recognisable. The subtext

here is “temperament”. Appearances

are decided by one’s moral traits, and a

person of virtue must come across in a

pleasant way.

Fourth is enterprise. Only when

one is enterprising can he emit positive

energy and become a useful person in

society.

Integrity is the threshold. It is the

requirement for a person’s “height”, while

morality and enterprise are requirements

of “breadth”. I believe, with both

“height” and “breadth”, such a group

of people together are bound to create

an atmosphere of harmony, friendship,

positivity and cheerfulness.

TheLINK: What was your biggest

takeaway from CEIBS?

While at CEIBS I started to run, and

I also participated in the Gobi Desert

Challenges. This competition was so

important for me; it even led to some big

changes in my life, which can be likened

to a kind of rebirth.

I’ve been to the Gobi Desert three

times. I was on Team B in the 7th

Challenge, and led Team B in the 8th

Challenge. The Challenges taught me a

lot. Running is boring, and it’s hard to

stick to it without companions. After

I entered CEIBS, a group of Challenge

“veterans” ran together with me. Every

time I was feeling bad and wanted to give

up, they always, by hook or by crook,

encouraged me to carry on; but when I

reached a goal, they would just leave me

alone to enjoy my accomplishment. After

I returned from the Gobi Desert, I began

to enjoy running.

Recently Professor Jean Lee taught

a Leadership in Action course in the

Gobi Desert, and I was her ‘teaching

assistant’ there. Professor Lee designed

many games for our hikes, and every

game had a theoretical implication. The

first day it was about team leadership,

inspiring everyone to work together

for one unified goal; on the second day

leadership and change management was

addressed, showing everyone how to lead

a team when change happens; leadership

and conflict was discussed on the third

day, everyone was engaged in exploring

how to deal with conflicts within the

team. Every evening after the participants

returned to the campsite, the professor

and I would highlight the main ideas of

the theories, and the participants made

summaries and shared their experiences.

This teaching approach not only

improved participants’ understanding

of the theories, but also gave them

instructions both for life and career.

TheLINK: What would you like to say to

your alma mater?

“Thank you!” That’s all I want to say.

I have so many reasons to be grateful.

CEIBS is like an oasis on our lifelong

journey; everyone gathers here, taking a

rest, sharing, experiencing, summarising,

and then setting out again. In my eyes,

this oasis will be extremely important for

my entire life.

There is an old Chinese saying that

goes: I examine myself daily on three

points: whether, in transacting business

for others, I may not have been faithful;

whether, in communication with friends,

I may not have been sincere; whether I

may not have mastered and practiced the

instructions of my teacher. It basically

reminds us that if we want to improve

ourselves, we need to reflect on our

behaviour every day to see whether

they are right or wrong. With help from

CEIBS professors and classmates, we are

able to look back on and summarise our

life experiences, then come to realise what

successful experiences are worth sharing

and what lessons of failure are worth

learning. Within the CEIBS community,

supply is abundant and there is a bumper

harvest.

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By Linda Zhang, CEIBS GEMBA2001 Alumnus; “Grade Seven” Mentor for CEIBS MBA Mentoring Programme; Executive Coach; Founder, 4E Management Consulting

Creating Lifelong Ties Through Mentoring

Seven years have passed since I first began to serve

as a mentor for the CEIBS MBA Mentoring

Programme. Through dialogue and discussions

with participants on topics like career, mindset,

choices and life, I have been deeply moved by the students’

enterprising spirit and filled with a sharp sense of

responsibility.

When I think back over these seven years of mentoring,

vivid memories flit through my mind. Back when I began,

equipped with the expertise and skills for career mentoring,

I had just changed my role from a professional manager to

an executive coach. I was excited to participate and select

six mentees. With enthusiasm and great admiration for the

students, I held a heart-to-heart talk with each participant

for an hour each month. I was deeply impressed by the

differences between Chinese and foreign participants

in terms of character, cultural preference, style of

communication, life experience, and career experience.

Each autumn, mentors bid farewell to old participants

and welcome new mentees . When choos ing new

participants, I like to read through their applications.

Although we barely know each other, I am convinced we

70


will hit it off if the applicants have

learned about my career experience

and file an application that tugs at my

heartstrings.

S o f a r, I h av e m e n t o r e d 2 6

participants. Since graduation, most

have moved up their career ladder and

started a family. Each year, we throw

one or two parties to share our latest

life experiences and exchange ideas

about how to quickly adapt oneself

to a new working environment, get

along with colleagues, strike a balance

between work and life in a high-

pressure, fast-paced environment,

grasp opportunities for promotion and

career progress, and maintain peace of

mind.

One participant in particular left

a deep impression on me. When we

discussed his career, he came up with

unique ideas for career paths such

as office work, consulting service or

entrepreneurship. When we probed

further down these paths, taking

lifecycle into account, he naturally

added family — a critical component

71



— into his career planning. With a clear

blueprint in mind, he is now making

huge strides, braving the difficulties he

encounters. It gratifies me to see that

he has juggled his career and home

commitments, making his life even

more colourful than he expected seven

years ago.

I am also appreciative of another

participant who is independent-

minded and highly motivated. With

strong learning capability, she dares to

place herself in completely unfamiliar

surroundings. As she charts her own

career course, she continues tapping

into her potential to push the envelope.

I am all ears whenever she holds forth

on her recent experiences. With a ready

smile, she appears quick-witted, sure-

footed, and well-cultivated. I find in

her a maturity rare among her peers.

Over the past seven years, I have

also met some peers who are on the

same wavelength. They are my mentors,

fellow alumni and friends. Sometimes

we chat about why we decided to

participate in this mentorship project

and continue to keep at it. All of us

agree we have learnt from participants

a s m u c h a s t h e y h ave f ro m u s ,

particularly in terms of self-perception

and mentoring capabilities.

Recently, I have been thinking over

how to become an excellent mentor

for the Mentoring Programme. Is it

good timing to chat with participants

and encourage them to explore their

inner thoughts when we are both worn-

out physically and mentally? Will these

students find any enlightenment from

our advice, especially as we are judging

them through our own values and

guiding them forward from a more

experienced perspective? Do professional

mentors need to improve themselves

through learning and practice?

After thinking over these questions,

I believe the qualities of a professional

mentor are as follows:

1. Sense of responsibility :

Cast ing a s ide pre judices , the

mentor is duty-bound to encourage

participants to speak their own

mind;

2. Curiosity: Instead of boxing

himself/herself in or preaching

bl indly, the mentor should be

curious about participants’ life

experiences, career objectives,

thought pattern, and lifestyle, and

willing to spur them on to move

out of their comfort zone and make

forays into known and unknown

territory.

3. E m p a t h y : T h e m e n t o r

should put himself in participants’

shoes in order to gain deep insights

into their ideas by applying the

golden circle (Why-How-What).

4. To l e r a n ce : The mentor

s h o u l d b e o p e n - m i n d e d t o

participants’ distinctive personalities

and ready to learn from them with

humility. The shift of perspective

from the singular to the plural, from

the present to the future, and from

the subjective to the objective will

open up broader vistas for both

mentors and participants.

I h a v e b e n e f i t t e d f r o m t h e

Mentor ing Programme and have

now accumulated some experience in

career mentoring. Beginning last year,

I have written many articles on career

development and published them on

the public WeChat account “4E4U”,

in the hopes that more young people

will get ahead in their career through

contemplation, exploration, reflection,

action and accumulation.

The annual mentoring programme

is about to kick off. I hope that last year’s

participants will make some progress.

I am also excited to take up with new

mentees. Everyone follows a road of

his own, but it can be a memorable

experience to meet a mentor along the

way and forge lifelong ties.


72


CEIBS MANAGEMENT COMMITTEE

Professor Pedro NUENO, European PresidentProfessor LI Mingjun, Chinese President Professor XU Dingbo, Associate Dean

Professor ZHANG Weijiong, Vice President and Co-Dean

Dr Snow Zhou, Assistant PresidentProfessor DING Yuan, Vice President and Dean

CURRENT FACULTY MEMBERS

CAI, John, PhDEconomics

CARDONA, Pablo, PhDManagement

CHANG, Vincent, PhDEntrepreneurship

CHEN, Jieping, PhDAccounting Zhongkun Group Chair of Accounting

CHEN, Shaohui, PhDManagement Practice

CHEN, Shimin, PhDAccountingZhu Xiaoming Chair in Accounting

CHEN, Weiru, PhDStrategy

CHIANG, Jeongwen, PhDMarketing

CHNG, Daniel Han Ming, PhDManagement

DAVID, Emily M.Management

DING, Yuan, PhDAccountingCathay Capital Chair in Accounting

FANG, Yue, PhDDecision Sciences

FERNANDEZ, Juan Antonio, PhDManagement

GONG, Yan, PhDEntrepreneurship

GutSAtZ, MichelMarketing

HAN, Jian, PhDManagement

HuANG, Ming, PhDFinanceLa Caixa Chair in Finance

HWANG, Yuhchang, PhDAccounting

JIANG, Jiangqing, PhDFinance

KIM, tae Yeol, PhDOrganizational Behavior and Human Resource Management

LEE, Jean S K, PhDManagementMichelin Chair in Leadership and HR

LEE, Byron, PhDManagement

LOW, Aaron H.W. PhD Finance

LI, Mingjun, PhDManagement

LIANG, Neng, PhDManagement

LIN, Chen, PhDMarketing

MEYER, Klaus E., PhDStrategy and International BusinessPhilips Chair in Strategy and International Business

Moran, Peter, PhDStrategy

NuENO, Pedro, DBAEntrepreneurshipChengwei Ventures Chair in Entrepreneurship

PARK, Hyun Young, PhDMarketing

PARK, Sam (Seung Ho), PhDStrategyParkland Chair Professor of Strategy

PRASHANtHAM, Shameen, PhDInternational Business & Strategy

PRICE, Lydia J., PhDMarketing

RAMASAMY, Bala, PhDEconomics

RIBERA, Jaume, PhDProduction and Operations ManagementPort of Barcelona Chair in Logistics

RuI, Oliver, PhDFinance and AccountingZhongkun Group Chair of Finance

SAMPLER, Jeffrey, PhDManagement

SCHuH, Sebastian, PhD Management

Su, Xijia, PhDAccounting

tSAI, terence, PhDManagement

tSAMENYI, Mathew, PhDAccounting

tSE, Kalun, PhDFinance

tSIKRIKtSIS, Nikos, PhDOperations Management

VELAMuRI, S. Ramakrishna, PhDEntrepreneurship

WANG, Gao, PhDMarketing

WANG, JingMarketing

WANG, Jun PhD Finance

WOOD, Jack Denfeld, PhDManagement

Wu, Ho-Mou, PhD Economics

Wu, JinglianEconomics Baosteel Chair in Economics

XIANG, Yi, PhDMarketing

XIN, Katherine R., PhD ManagementBayer Chair in leadership

Xu, Bin, PhDEconomics and FinanceWu Jinglian Chair in Economics

Xu, Dingbo, PhDAccountingEssilor Chair of Accounting

Xu, Xiaonian, PhDEconomics and FinanceSantander Central Hispano S.A Chair in Economics and Finance

YEuNG, Arthur, PhD Management

Yu, Fang (Frank), PhDFinance

ZHANG, Hua, PhDFinance

ZHANG, Weijiong, PhDStrategy

ZHANG, Yimin, PhDFinance

ZHANG, Yu, PhD Management

ZHAO, Xiande, PhDOperations and Supply Chain Management

ZHAO, Xinge, PhDFinance and Accounting

ZHOu, Dongsheng, PhDMarketing

ZHu, tian, PhDEconomics

ZHu, Xiaoming, PhDManagementZhongtian Chair of Management

RESEARCH CentresCase Development CenterDirector: Prof. LIANG, Neng

Centre of Chinese Private EnterprisesDirector: Prof. ZHANG, Weijiong

CEIBS Centre for Healthcare Management and PolicyDirector: Prof. CAI, John

the Euro-China Center for Leadership and ResponsibilityDirector: Prof. PRICE, Lydia

Leadership Behavioural LaboratoryDirector: Prof. LEE, Jean

China Outsourcing InstituteDirector: Prof. ZHU, Xiaoming

CEIBS Lujiazui Institute of International Finance Director: Prof. WU, Xiaoling

Center for Automotive ResearchDirector: Prof. ZHAO, Xiande

CEIBS Centre for China InnovationDirector: Prof. HAN, Jian

CEIBS-Pudong Service Economy Research CentreDirector: Prof. ZHU, Xiaoming/Prof. NUENO, Pedro

Centre for Globalization of Chinese CompaniesDirector: Prof. XIN, Katherine /Prof. MEYER, Klaus

CEIBS Research Centre for Emerging Market StudiesDirector: Prof. SAM, Park

CEIBS Centre for Family HeritageDirector: Prof. LEE, Jean/ Prof. RUI, Oliver

the Shanghai Institute of Digitalization and Internet FinanceDirector: Prof. ZHU, Xiaoming

CEIBS Centre for Arts & Cultural StudiesDirector: Prof. ZHU, Xiaoming

CEIBS-World Bank China Centre for Inclusive Finance Director: Prof. WANG, Jun

CEIBS-GLP Center of Innovation in Supply Chain and Services Director: Prof. ZHAO, Xiande

CEIBS Institute for Entrepreneurship & Innovation Director: Prof. ZHU, Xiaoming

CEIBS Shoushan Center for Wealth Management Director: Prof. RUI, Oliver

CEIBS Shanghai Research Center of Cross Broder E-CommerceDircetor: Prof. ZHU, Xiaoming

Prof. DING, Yuan (Chairman)CEIBS, PRC

Prof. CANALS, JordiIESE Business School, Spain

Prof. CREMER, Rolf D.Global Bridges China Forum, Germany

Prof. DE BEttIGNIES, Henri-ClaudeINSEAD, France

Prof. DE MEYER, ArnoudSingapore Management University, Singapore

Prof. KLAG, Michael J.The Johns Hopkins Bloomberg School of Public Health, USA

Prof. LIKIERMAN, AndrewLondon Business School, U.K.

Prof. NuENO, PedroCEIBS, PRC

Prof. PALADINO, MarceloIAE Business School, Argentina

Prof. PALEPu, KrishnaHarvard Business School, USA

Prof. QIAN, YingyiTsinghua University School of Economics and Management, PRC

Prof. RAMANANtSOA, BernardHEC Paris, France

Prof. tuRPIN, DominiqueIMD, Switzerland

Prof. ZHANG, WeijiongCEIBS, PRC

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